Mining group Lonmin is leading the FTSE 100 fallers this afternoon after reports that it is to cut 4,000 jobs in South Africa.
The South Africa union Solidarity said it had been notified about the job cuts at two platinum mines in the country.
South Africa's biggest mine workers union, the National Union of Mineworkers (NUM), held a protest at the planned cuts yesterday.
Last week Lonmin warned that it would close uneconomic mines as it predicted flat platinum sales in 2009.
Lonmin shares were down more than 8% at 837.5p. It's a far cry from the £33 a share that Xstrata offered back in August.
Xstrata, which has a 25% stake in Lonmin, was down more than 5% to 907p today.
Overall the FTSE 100 has been close to flat for much of the day. It is currently up 7.41 points at 4233.51.
